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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1808465 times)
paraipan
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February 15, 2013, 05:44:27 PM
 #4201

stupid me.

it's actually much worse than i thought.  here is the ENTIRE history of GDXJ since it's inception in Nov 2009.  we are at ALL TIME LOWS:

so how long have i been at this now?  answer: two gold threads and hundreds of thousands of views since Aug 2011.  

is anyone willing to acknowledge there is a problem here besides me?



^ damn, that doesn't look good at all...

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cypherdoc
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February 15, 2013, 05:55:19 PM
 #4202

stupid me.

it's actually much worse than i thought.  here is the ENTIRE history of GDXJ since it's inception in Nov 2009.  we are at ALL TIME LOWS:

so how long have i been at this now?  answer: two gold threads and hundreds of thousands of views since Aug 2011.  

is anyone willing to acknowledge there is a problem here besides me?



^ damn, that doesn't look good at all...

can you imagine how many ppl bought dips all the way down like our friend silverbox?

it's the quintessential definition of catching falling knives.
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February 15, 2013, 05:58:10 PM
 #4203

ASIC's coming online.  Looks like a new high to me.  That is awesome!

robocoin
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February 15, 2013, 06:04:09 PM
 #4204

ASIC's coming online.  Looks like a new high to me.  That is awesome!



It will be as "solid" as gold.
miscreanity
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February 15, 2013, 06:11:15 PM
 #4205

it's the quintessential definition of catching falling knives.

If Coca-Cola were down this low, you'd probably be calling it a screaming buy because sentiment is at an all-time low and the valuations are absurdly below reality. This is exactly the time to be accumulating better-than-dirt-cheap shares.
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February 15, 2013, 06:19:34 PM
 #4206

it's the quintessential definition of catching falling knives.

If Coca-Cola were down this low, you'd probably be calling it a screaming buy because sentiment is at an all-time low and the valuations are absurdly below reality. This is exactly the time to be accumulating better-than-dirt-cheap shares.

no actually, i wouldn't.  now's not the time.

gold sentiment to me continues to be high.  my listening of all the podcasts hasn't detected any change at all amongst the gold bugs.
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February 15, 2013, 06:25:55 PM
 #4207

yet another Bitcoin green candle.
miscreanity
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February 15, 2013, 06:33:41 PM
 #4208

it's the quintessential definition of catching falling knives.
If Coca-Cola were down this low, you'd probably be calling it a screaming buy because sentiment is at an all-time low and the valuations are absurdly below reality. This is exactly the time to be accumulating better-than-dirt-cheap shares.
no actually, i wouldn't.  now's not the time.

gold sentiment to me continues to be high.  my listening of all the podcasts hasn't detected any change at all amongst the gold bugs.

Sure, the hardcore ones. Everyone else has gotten bored, scared, or distracted by new highs elsewhere.

Edit: sleight of hand - it isn't just for David Copperfield...
cypherdoc
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February 15, 2013, 06:51:02 PM
 #4209

it's the quintessential definition of catching falling knives.
If Coca-Cola were down this low, you'd probably be calling it a screaming buy because sentiment is at an all-time low and the valuations are absurdly below reality. This is exactly the time to be accumulating better-than-dirt-cheap shares.
no actually, i wouldn't.  now's not the time.

gold sentiment to me continues to be high.  my listening of all the podcasts hasn't detected any change at all amongst the gold bugs.

Sure, the hardcore ones. Everyone else has gotten bored, scared, or distracted by new highs elsewhere.

Edit: sleight of hand - it isn't just for David Copperfield...

even if you're right about sentiment it doesn't mean it's going to get any  better.  in fact, it's likely to get much worse.
miscreanity
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February 15, 2013, 07:14:34 PM
 #4210

even if you're right about sentiment it doesn't mean it's going to get any  better.  in fact, it's likely to get much worse.

About the only way it could get worse is if central banks, Chinese, Indians, and Russians were to dump all the physical gold they've accumulated. The exhaustion spike is due, and that's just the paper game unfolding - the tail wagging the dog for just a little bit longer.

Where is the supply of real metal coming from?
cypherdoc
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February 15, 2013, 07:41:14 PM
 #4211

even if you're right about sentiment it doesn't mean it's going to get any  better.  in fact, it's likely to get much worse.

About the only way it could get worse is if central banks, Chinese, Indians, and Russians were to dump all the physical gold they've accumulated. The exhaustion spike is due, and that's just the paper game unfolding - the tail wagging the dog for just a little bit longer.

Where is the supply of real metal coming from?

look.  we're at $1600/oz.  it could get alot worse.

and just how much delight would Ben and the Wall St banks get from a forced selloff in gold?
miscreanity
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February 15, 2013, 08:23:09 PM
 #4212

look.  we're at $1600/oz.  it could get alot worse.

and just how much delight would Ben and the Wall St banks get from a forced selloff in gold?

Again, where is the supply of real metal coming from? We're still looking at $1600 in paper prices, and we all know that paper can go to zero. You can't tell me a picture of food is worth the food itself.

Gold market report: spike in banks' net short silver position shows a decline in gold shorts, and silver getting unruly. The lid is being held on top of the pressure cooker way longer than is safe.

Either way, Bitcoin is better due to lack of counter-party risk. The $30 mark should easily fall within the next three months - then it's on to $100. I can't wait until a BTC is worth more than XAG Smiley
Melbustus
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February 15, 2013, 09:24:22 PM
 #4213

look.  we're at $1600/oz.  it could get alot worse.

and just how much delight would Ben and the Wall St banks get from a forced selloff in gold?

Again, where is the supply of real metal coming from? We're still looking at $1600 in paper prices, and we all know that paper can go to zero. You can't tell me a picture of food is worth the food itself.

Gold market report: spike in banks' net short silver position shows a decline in gold shorts, and silver getting unruly. The lid is being held on top of the pressure cooker way longer than is safe.

Either way, Bitcoin is better due to lack of counter-party risk. The $30 mark should easily fall within the next three months - then it's on to $100. I can't wait until a BTC is worth more than XAG Smiley


I think the argument would be that paper might be fairly valued somewhere between $0 and $400, say, and that physical should be $400-$1000.

Not saying I necessarily agree or disagree with that analysis (I personally have no idea how to think about gold anymore)... Honestly, most of my lines of thought on gold direct me to bitcoin instead.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
2weiX
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February 15, 2013, 09:58:34 PM
 #4214

(I personally have no idea how to think about gold anymore)...

hahahaha...
my boss asked me "why'd gold dip today?" and the most honest thing I could say ways "I dunno." while thinking "who gives a sh.t?"
you need to know, I'm the gold ETF trader at my firm.

over the last two years I have grown to loathe gold and silver in every non-shiny, non-tangible shape and form.



cypherdoc
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February 15, 2013, 10:00:47 PM
 #4215

i know how to think about it; down.
marcus_of_augustus
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February 15, 2013, 10:14:47 PM
 #4216

(I personally have no idea how to think about gold anymore)...

hahahaha...
my boss asked me "why'd gold dip today?" and the most honest thing I could say ways "I dunno." while thinking "who gives a sh.t?"
you need to know, I'm the gold ETF trader at my firm.

over the last two years I have grown to loathe gold and silver in every non-shiny, non-tangible shape and form.

Wow ... you are the ETF trader for your firm and this is how you are thinking? That's revealing. If you don't mind me asking are you trading in a sizeable fashion ... small, medium, large, or etc?

robocoin
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February 15, 2013, 10:18:27 PM
 #4217

Isn't it all about George Soros today? If I'd write on "goldtalk.org", Mr.M had a last name^^
cypherdoc
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February 15, 2013, 10:24:34 PM
 #4218

(I personally have no idea how to think about gold anymore)...

hahahaha...
my boss asked me "why'd gold dip today?" and the most honest thing I could say ways "I dunno." while thinking "who gives a sh.t?"
you need to know, I'm the gold ETF trader at my firm.

over the last two years I have grown to loathe gold and silver in every non-shiny, non-tangible shape and form.

Wow ... you are the ETF trader for your firm and this is how you are thinking? That's revealing. If you don't mind me asking are you trading in a sizeable fashion ... small, medium, large, or etc?

furthermore, why'd you say "i dunno"?  you should've said, "Bitcoin".  Cheesy

as i've said before, there doesn't have to be a one for one movement of USD's out of gold and into Bitcoin to believe this is so.  the awareness of an alternative is all that's necessary to make ppl pause and not buy gold.  but over the years, the tsunami should build as the shift begins.
Melbustus
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February 15, 2013, 10:39:08 PM
 #4219

...the awareness of an alternative is all that's necessary to make ppl pause and not buy gold.  but over the years, the tsunami should build as the shift begins.


So your answer to: Does much of gold's market cap eventually go to Bitcoin seems to be a definitive "Yes". :-)

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
miscreanity
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February 15, 2013, 11:07:52 PM
 #4220

over the last two years I have grown to loathe gold and silver in every non-shiny, non-tangible shape and form.

That's one of the objectives pursued through authority "open" market operations, since almost nobody in the West gets the difference between non-shiny and tangible.

over the years, the tsunami should build as the shift begins.

Amen to that.
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